Name: 金価格は2,000ドルを超えて「屋根を突き抜ける」とピーター・シフ氏は言う (Gold price is "going through the roof" beyond $2,000 says Peter Schiff)
Uploaded: 2021-01-14T09:22:45.000Z
Duration: 15 min 46 s
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We're starting our coverage here at the V R I C in Vancouver and joining me now Peter Schiff, a CEO of Euro Pacific Capital.

I didn't know this was your first interview.

This is this is probably your first interview.

Six months, six months with twins, I might add.

First and foremost, let's talk about the recent news items.

We've seen a deed escalation of tensions with Iran.

Is everything Rosie in the world right now?

You know, the markets, I think want to believe that.

But, you know, the trade deal really doesn't amount to much.

I mean, I was saying that from the beginning that it was more hype and that I thought that the markets would actually get MME.

Or out of the promise of a trade deal than actually the delivery of a deal that didn't live up to expectations.

Everything supposedly is back and loaded into phase two, but I don't think there's gonna be a phase two.

And, you know, the markets are the rather than that, the government isn't even really getting rid of the tariffs.

The tariffs are still here, so there's still a problem.

This is not a game changer for the US economy.

I think that the tension is probably somewhat less elevated than it was when the missiles were flying.

Then there was before way took out solo mania.

So I think the markets have more to worry about.

But what they really need to worry about is the U.

S economy and the Fed policy, because it's Fed policy that's driven the rally.

But this Fed policy is very destructive to the U.

Do you think that this will change at all their course of action?

I mean, we're on a very destructive course of action, they're gonna keep on printing money.

They're gonna keep interest rates artificially low because they're afraid of the consequences of what they've already done.

So rather than deal with those consequences, they want to kick the can down the road by making the consequences even worse, which is what they've done by lowering rates again and going back a quantitative easing.

Obviously, we'll go into in depth detail tomorrow.

Is Bridgewater coming out saying, Hey, we wouldn't be surprised if gold rallies 30% this year going up above $2000 an ounce and you're saying no surprise there.

At fact, I think if Trump is not re elected, right, if we get like President Sanders, gold should go above 2000 this year.

And if it's not above 2000 by the election, it should be a 2000 election night if we get the results.

But ultimately, gold goes much higher than that, because remember, gold got up to 1900 back in 2011 and that was following a 10 year run where gold started below 300.

But the reason that gold got that high was because people initially had the correct reaction to Q E and 0% rates that this was a disaster on that they're Fed was not gonna be able to get out of this.

But then all of a sudden, the Fed managed to convince everybody at least everybody who counted, not me.

But you know, the mainstream that, hey, they could normalize interest rates and shrink their balance sheet.

And it was based on that false belief that gold pulled back.

But now that people are coming to the conclusion that Q is indefinite and that rates are never going to normalize, the bottom's gonna drop out of the dollar.

And that means gold goes through the roof.

What do you make up for when you hear that these Wall Street execs are coming out in favor of gold?

Because for the longest time, as you know, you know, Wall Street has not really been favorable to gold, and they're still not.

I mean, you're talking about Yeah, Leo, there's a couple of guys that are talking about it, Jeff Gundlach.

I mean, but these guys, they're not mainstream thinkers.

I mean, they're smart guys, but, you know, if you look at the typical investment portfolio of a hedge fund or of major investors, endowments, pension funds, they've got no exposure to go.

In fact, gold stocks have outperformed the S and P the last four years.

They beat the S and P over the last two years.

In fact, last year the S and P was up 30% but earnings were down 1%.

Gold stocks were up about 40% but earnings were up about 80%.

But despite that year to date, even though gold is up another two and 1/2 percent so far in January, gold stocks are down.

And so there isn't a lot of enthusiasm for gold stocks in the investment community.

The last time this happened, where gold was up in the January and gold stocks were down was 2020 years ago.

You're bringing that up because that's the majority of the e mails I'm getting right now is, you know, with gold up wiring the mining stocks performing investors are frustrated because you're not bullish, you know.

But if this is a repeat of 2000 think about January of 2000.

That was the peak of the NASDAQ bubble, and it was the bottom of a 20 year bear marketing gold.

So even though gold started 2000 going up, investors were still negative on the stocks.

Even though we've had a big increase in earnings of gold companies and gold stocks have been doing well, they're climbing a wall of worry.

People are rushing into the NASDAQ when they should be buying gold stocks.

So I think this is probably a harbinger of good things to come.

I would take this as a contrarian indicator and we should be buying gold stocks.

I mean, I'm already all in, but if you're not, you should be getting into this sector, and you should be taking the advantage of the hype in the U.

Stock market and selling your particular your NASDAQ type stocks.

What are you buying in the mining stock size that the juniors, the mid tears you want barracks?

Obviously I mean, Barrack, I think, is pretty well positioned right now.

But the best gains are gonna be in the juniors if you get the right ones, right?

Of course you could buy the wrong ones, that's why.

Look, I've turned over my stock picking in that area to Adrian Day, who was also here.

I'll know if you're gonna do an interview with Adrian, but he manages my gold fund.

We got five stars, which is the most they give.

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金価格は2,000ドルを超えて「屋根を突き抜ける」とピーター・シフ氏は言う (Gold price is "going through the roof" beyond $2,000 says Peter Schiff)

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